Liberals- Obama re-lected- debt in 2016 at $22 trillion....... (wages, generation, illegal)
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Let us say that Obama wins in 2012 (very unlikely, yet possible) and the liberals get what they want- four more years of OBAMA! Hooray!
Fast forward four years and the national debt is $22 trillion. Now what do you do?
1. TAXES?
a. If you enslaved "the rich", it only adds $900 billion in additional revenue every year, so that won't work
b. we just had the biggest tax increase in US history to accomodate a NEW entitlement, which we have not even started to pay for.
c. VAT tax of 15% raises $1.3 trillion per year (that makes us break even)
2. CUTS?
a. if we cut the military in half, that saves $280 billion per year
b. social security, medicaid and medicare are the largest expenditures, but most libs don't want to cut there
c. federal employee wages and pensions? Nope- libs don't want to cut there
d. roads and infrastructure? Nope- libs don't want to cut there
e. payments for federal and state services for illegals? Nope- libs don't want to cut there
3. Economic plans
a. allow hyperinflation and or currency devaluation and pay off our debt with worthless money
b. balanced budget amendment coupled with austerity plans (the hangover after the spending party)
c. selling off US assets
d. just go on as usual and pass a worse problem off to the next generation
Obama "winning" in 2012 would be a "loss" for liberals as well, as they will have to pay for the consequences of that election as much as conservatives.
Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
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Quote:
Originally Posted by hawkeye2009
Let us say that Obama wins in 2012 (very unlikely, yet possible) and the liberals get what they want- four more years of OBAMA! Hooray!
Fast forward four years and the national debt is $22 trillion. Now what do you do?
1. TAXES?
a. If you enslaved "the rich", it only adds $900 billion in additional revenue every year, so that won't work
b. we just had the biggest tax increase in US history to accomodate a NEW entitlement, which we have not even started to pay for.
c. VAT tax of 15% raises $1.3 trillion per year (that makes us break even)
2. CUTS?
a. if we cut the military in half, that saves $280 billion per year
b. social security, medicaid and medicare are the largest expenditures, but most libs don't want to cut there
c. federal employee wages and pensions? Nope- libs don't want to cut there
d. roads and infrastructure? Nope- libs don't want to cut there
e. payments for federal and state services for illegals? Nope- libs don't want to cut there
3. Economic plans
a. allow hyperinflation and or currency devaluation and pay off our debt with worthless money
b. balanced budget amendment coupled with austerity plans (the hangover after the spending party)
c. selling off US assets
d. just go on as usual and pass a worse problem off to the next generation
Obama "winning" in 2012 would be a "loss" for liberals as well, as they will have to pay for the consequences of that election as much as conservatives.
First, during the Great Depression, FDR ran up a national debt of over 100% of GDP (and BTW, the current projected GDP-to-Debt ratio peaks out much earlier, around 2015 when the curve starts descending again).
Second, and all that is even assuming we don’t ditch further extensions of the infamous "Bush Tax Cuts for the Wealthy" (currently adding nearly a half trillion a year to the annual deficit)! In short, the sky is not falling...!
LOL..Eagerly waiting for a response to a bunch of hypotheticals? I posted a fact that conservatives NEVER respond to.
I'll respond. It's not a fact. What 5.5 trillion surplus?
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